Goldman Threatens London to Move 20% of its Staff to Spain

Goldman Sachs (GS) warns UK Treasury it may transfer 20% of its 5,000 London staff to Spain in protest over UK tax and bonuses. Barclays’ (BCS) chief executive, John Varley, waded into the bonus debate on Friday, warning that talent was likely to flee London because of the tax. “This is a global industry and talent is mobile. We need a level playing field to make sure that we can compete with the best companies in the world,” he said.